ASBJ releases Exposure Drafts of Accounting Standards for Business Combinations and related matters

On January 11, 2013, the Accounting Standards Board of Japan (ASBJ) released for public comment the Exposure Drafts of Accounting Standards for Business Combinations and related matters. The comment deadline is March 15, 2013.

The exposure drafts propose the revisions to accounting for transactions with non-controlling interests, acquisition-related costs and provisional accounting treatment.

They are proposed to apply for annual periods beginning on or after 1 April 2015 and early adoption would be permitted for annual periods beginning on or after 1 April 2014 (with exceptions for some items).